Recap Pullback below Y-0 early in the week confirmed potential weaknesses. After test of Y+1 and failing to breakout above that, selloff started and dropped down to Y-1 in one go. Stayed sideway the rest of the week between Y-0 and Y-1. Closed the week near Y-0.
Outlook No clear direction at this point.
Consolidation usually leads to continuation of original trend thus it is more likely to retest B+1 at least one more time.
Lawrence's Comment
Recap
Test of Y+1 led to breakout to the upside. Breakout target Y+3 was tagged by the end of the week. Closed the week above Y+2 and near week high.
...
Lawrence's Comment
Recap
The no bias setup became a breakout play this past week. Cable was trapped at the upper zone mentioned last week. Then the announcement came, cable flushed down to ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
GBPUSD Nov 07 to Nov 11 Outlook
Lawrence’s Comment
Pullback below Y-0 early in the week confirmed potential weaknesses. After test of Y+1 and failing to breakout above that, selloff started and dropped down to Y-1 in one go. Stayed sideway the rest of the week between Y-0 and Y-1. Closed the week near Y-0.
Outlook
No clear direction at this point.
Consolidation usually leads to continuation of original trend thus it is more likely to retest B+1 at least one more time.
Share